00:00Now, at the Fed, our number one objective is getting monetary policy right.
00:05That's our clear and constant aim, the star we steer by.
00:11And if we get policy right, and I can assure you we will,
00:17the inflation surge of the last five years will be a thing of the past.
00:22The members of our committee have no tolerance for persistently elevated inflation,
00:27and we share a resolute commitment to ensure price stability.
00:33This was the focus of our June meeting,
00:35at which we decided to hold the target range in the Fed funds rate at 3.5% to 3
00:41.75%.
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